Record profits for Hilton as Ladbrokes goes from strength to strength
Tuesday 24th August 2004
The Hilton Group has reported record six-month profits today, thanks partly to the gradual recovery of the tourist trade and its 400 hotels, but more significantly to the robust health of betting chain, Ladbrokes. Strong performances from the company’s Internet gaming division, particularly its new poker platform, and the continued success of fixed odds terminals in its betting shops have allowed Hilton to expect pre tax profits of £170 million, against £110.5m last year.
The Hilton Group will be pleased by the performance of its hitherto ailing hotel chain and the re-emergence of the tourism industry following the hysteria provoked by Sars and global terrorism; however, the industry is not expected to make a full recovery until next year.
The Hilton Group has reported record six-month profits today, thanks partly to the gradual recovery of the tourist trade and its 400 hotels, but more significantly to the robust health of betting chain, Ladbrokes. Strong performances from the company’s Internet gaming division, particularly its new poker platform, and the continued success of fixed odds terminals in its betting shops have allowed Hilton to expect pre tax profits of £170 million, against £110.5m last year.